Jupiter Topco LLC Invests $1.99 Million in Extreme Networks, Inc. $EXTR

Key Points

• Jupiter Topco acquired 61,373 shares of Extreme Networks valued at approximately $1.99 million, while institutional investors collectively own 91.05% of the company.
• Extreme Networks reported quarterly revenue of $338.55 million and EPS of $0.32, beating analyst expectations, with revenue increasing 10.3% year over year.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Hold ratings and a consensus price target of $32.25, although company insiders sold about $4.2 million in shares over the past 90 days.

Jupiter Topco LLC acquired a new position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 61,373 shares of the technology company's stock, valued at approximately $1,985,000.

Several other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Extreme Networks during the 3rd quarter valued at about $31,000. Rockefeller Capital Management L.P. increased its stake in shares of Extreme Networks by 313.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company's stock valued at $33,000 after purchasing an additional 1,484 shares during the period. Quarry LP raised its holdings in shares of Extreme Networks by 74.9% during the third quarter. Quarry LP now owns 2,610 shares of the technology company's stock valued at $54,000 after buying an additional 1,118 shares during the last quarter. CWM LLC raised its holdings in shares of Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company's stock valued at $53,000 after buying an additional 1,084 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Extreme Networks by 136.8% during the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company's stock worth $54,000 after buying an additional 1,861 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Trading Down 0.5%

Shares of NASDAQ:EXTR opened at $21.89 on Friday. The company has a 50 day moving average of $27.54 and a 200-day moving average of $23.01. The firm has a market cap of $2.86 billion, a P/E ratio of 70.62, a P/E/G ratio of 1.45 and a beta of 1.76. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The business had revenue of $338.55 million during the quarter, compared to analysts' expectations of $332.49 million. During the same period last year, the firm posted $0.25 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. As a group, analysts anticipate that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 35,000 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total value of $1,065,050.00. Following the sale, the chief financial officer owned 151,296 shares of the company's stock, valued at approximately $4,603,937.28. The trade was a 18.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katayoun Motiey sold 30,000 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the completion of the sale, the insider owned 120,834 shares of the company's stock, valued at approximately $3,749,479.02. This trade represents a 19.89% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 144,325 shares of company stock valued at $4,197,148. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EXTR has been the subject of a number of recent analyst reports. Oppenheimer reissued an "outperform" rating on shares of Extreme Networks in a report on Thursday, August 6th. B. Riley Financial lifted their target price on Extreme Networks from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Craig Hallum reiterated a "buy" rating and set a $31.00 price target on shares of Extreme Networks in a research report on Thursday, August 6th. Needham & Company LLC decreased their price target on Extreme Networks from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Finally, Rosenblatt Securities lowered their price target on Extreme Networks from $39.00 to $38.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.25.

About Extreme Networks

Extreme Networks, Inc NASDAQ: EXTR is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company's product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme's Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.

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